Access to medical cannabis in France is set to increase as part of a strategic collaboration involving the controlling owner of Israel’s largest medical cannabis product manufacturer and its European subsidiary.

A binding memorandum of understanding has been signed between Panaxia Global – the proprietor of Panaxia Labs Israel Ltd. (“Panaxia Israel”)– and its subordinate company Neuraxpharm France. 

Based on the Panaxia-Neuraxpharm collaboration, the commercialization, distribution and manufacturing of Panaxia’s medical cannabis products will soon be kickstarted across France.

“We are delighted to expand our strategic collaboration with Panaxia. As part of our commitment to finding new solutions to respond to the needs of patients, we are very excited to be pioneers in the emerging medical cannabis sector in France and to expand our CNS product portfolio for our patients,” said the CEO of Neuraxpharm, Dr. Jörg-Thomas Dierks. 

“We believe that in the coming years, France will also join the accelerated trend in Europe and embrace the use of medical cannabis for patients who meet the criteria for the various indications,” he added.

Panaxia-Neuraxpharm collaboration will mirror Germany’s medical cannabis model

When comparing the recently announced strategic collaboration between Panaxia and Neuraxpharm with Germany’s flourishing medical cannabis model, there are clear similarities. Much like in Germany – where the $243 million-$283m valuation of its market makes it the third largest globally behind Canada and the United States –France will be served by medicinal cannabis goods that have been produced in accordance with the European Good Manufacturing Practice (EU-GMP) guidelines. 

Based on the details of this commercial collaboration, Panaxia will begin manufacturing products that comply with clinically-backed standards; inclusive of medical cannabis-infused oils and tablets. Neuraxpharm, on the other hand, will be required to brand, distribute, market and sell products for patients, pharmacies and physicians throughout France.

“We are proud to expand our collaboration with our partner, Neuraxpharm, as the leading European pharmaceutical company specialized in CNS, into France as well. France is a strategic market for Panaxia and reflects the regulatory change process that has taken hold in European countries in recent years,” said the CEO of Panaxia Global, Dr. Dadi Segal.

Panaxia-Neuraxpharm collaboration will give France’s medical cannabis market competitive edge

During the collaboration’s initial phase, the companies must respond to a tender that was released by the French government and the French National Agency for Medicines and Health Products Safety (ANSM). That tender invites the companies to participate in a trial that would contribute to regulation of France’s medical cannabis industry. 

Anticipated to begin within the next few months, the pilot will see 3,000 patients receive free medical cannabis products over a three-year period. Once the pilot is complete, the French government will make a final decision on permits to use and sell medical cannabis products in the European country. The results of this controlled study, combined with the Panaxa-Neuraxpharm partnership, will undoubtedly position France as a contender in Europe’s medical cannabis market.

So long as the ANSM approves Panaxia, the country will be able to submit a regulatory approval request to the French authorities. Approval of this kind would enable the company to market and distribute its products. Since Panaxia is the only EU-GMP certified company in Israel, it stands a good chance at being approved to churn out products to high European and international standards for France’s emerging sector.